作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
5 b) @. Q$ p* Efailed to make the first payment and now wishes to settle her obligations with a
- z, e: K3 I, y$ {% csingle payment four months from now. What payment should Thelma be willing to
& L7 h, e0 V6 ]7 l4 c: D0 }accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
) ~6 e$ L8 }4 ]* z( ^" tCash Principal        X        -750                  -950       
  I- ~2 ~/ X( d! m; w& b" j# @Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
9 s+ W1 G& N# U8 f# M) [                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
8 P3 ~7 L+ `. y6 Y; ^4 E" a
$ [$ {& L5 d6 E' uthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
4 c2 f% ~+ D9 i: \3 @                                       
3 U8 a6 J3 v% b- p9 k' [) f& G" hSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
1 {+ E6 J+ `4 n/ ~

littledognancy

Finance 学得不好所以不知道做得对不对。。。看着办吧~ 也许有用。

linchan

对了，答案是$1856.32